Sitrin Capital Management LLC Has $6.62 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

Sitrin Capital Management LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,901 shares of the business services provider’s stock after selling 325 shares during the quarter. Waste Management comprises 3.3% of Sitrin Capital Management LLC’s holdings, making the stock its 12th largest holding. Sitrin Capital Management LLC’s holdings in Waste Management were worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Lebenthal Global Advisors LLC bought a new stake in Waste Management during the third quarter valued at $943,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Waste Management by 1.0% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 94,817 shares of the business services provider’s stock valued at $19,684,000 after purchasing an additional 901 shares in the last quarter. United Asset Strategies Inc. grew its stake in Waste Management by 2.4% during the third quarter. United Asset Strategies Inc. now owns 63,279 shares of the business services provider’s stock worth $13,137,000 after purchasing an additional 1,475 shares during the period. Palumbo Wealth Management LLC increased its holdings in Waste Management by 1.7% in the third quarter. Palumbo Wealth Management LLC now owns 31,553 shares of the business services provider’s stock worth $6,550,000 after purchasing an additional 524 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in Waste Management by 31.1% in the third quarter. HM Payson & Co. now owns 6,001 shares of the business services provider’s stock valued at $1,246,000 after buying an additional 1,422 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of NYSE WM traded up $0.01 during midday trading on Friday, hitting $215.86. The company’s stock had a trading volume of 256,230 shares, compared to its average volume of 1,616,287. The stock has a fifty day moving average price of $209.26 and a 200 day moving average price of $208.77. The firm has a market capitalization of $86.64 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a one year low of $162.34 and a one year high of $225.00. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WM. Oppenheimer increased their price objective on shares of Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Finally, Argus upped their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.05.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.